dollar

Dollar Declines

Dollar slides as the Federal Reserve’s rate outcome comes closer.

The USD index  measures the strength of the dollar versus the other major currencies. It was down .20% to 93.64 as of 10:34 AM EST on Wednesday. This is due to the Federal Reserve being widely expected to raise interest rates for the second time this year later in the day.

EUR/USD was also up .27% to 1.1777 on the day. USD/MXN and USD/CAD are down .26% and .30% respectively. These also show evidence of the dollar’s decline today.